What You Don’t Know About A Vehicle Title Loan
You might have heard that there’s a loan out there you can get by simply owning your car, but what exactly is a vehicle title loan? We’re diving into all the details today so you can figure out if this is the right type of loan for you.
Here are five things you need to know about a vehicle title loan.
1. You Can Get Up To $15,000
Some people think that a vehicle title loan is only for a few thousand dollars, but this isn’t the case. Many lenders, including us, offer vehicle title loans for up to $15,000.
The total amount of the loan will depend on certain factors, especially the condition of your car.
2. You Can Keep Your Car
Not all vehicle title loans are built the same. Some of them, like the one we offer at Wisconsin Auto Titles Loans, Inc., allow the use of your car during the life of the loan. This means you get to use your car while making payments.
Your car will be used as collateral in case anything goes wrong, so all we need to do is inspect it before your loan is approved. This process is quick and easy and you get to drive your car on the same day.
Don’t forget – vehicle title loans are only given to those with lien-free titles to their vehicles. This means you own your car outright and do not owe any payment on it whatsoever. You must also not have any judgments against your car.
You’ll need a lien-free title that proves the car is yours. If you don’t have one on hand, get information on how to receive a copy at your local Department of Motor Vehicles.
3. You Don’t Need To Be Employed
To get a vehicle title loan, you’ll need your state ID, lien-free title, and the vehicle. You do not need to be employed. This is one of the few types of loans that doesn’t require you to be employed as long as you have a source of regular income.
Not only that, but Wisconsin Auto Title Loans, Inc. also doesn’t require the borrower to provide proof of a checking account. No accounts, no problem.
Of course, if you do have a steady job or a bank account, that is also acceptable, but many are eligible to apply for a vehicle title loan so long as they hold the required criteria mentioned above.
4. All Credit Is Welcome
Other firms may require good or even excellent credit, but that won’t be an issue at Wisconsin Auto Title Loans, Inc. Any credit, good or bad, are welcome to get started today.
Once you begin the process a designated representative will be appointed to you to discuss your specific situation.
5. You Can Get Started From Home
Getting started is quick and easy and you can do it from the comfort of your own home! Use our inquiry form to fill out your basic details online and a representative will reach out to you to complete the process.
Getting Your Vehicle Title Loan
If you use the online form, a representative will call you soon after, so keep your phone handy. If you’d rather speak with a representative in person, contact the store Wisconsin location nearest you.
Once you chat with our rep, and all of your questions are answered you’ll be given a list of items you need to show.
Requesting the option of title loans will require the title, valid ID, and your car for a quick inspection. After speaking to the representative, you’ll know how much money you qualify for. Title loan applicants will need to meet with the representative to show their documents and provide their car for inspection.
If you’re approved for the loan, you can have your money as soon as that same day or the next business day.
Get Started Today!
Loan stipulations change over time, especially in our ever-changing economy. If you’ve hit a rough patch and need money fast to face a financial emergency, reach out to us today and you could resolve your dilemma as soon as tomorrow. We offer both title loans and installment loans for our customers. Either option can take as little as 30 minutes to get started.
It’s time to breathe easy – get your Wisconsin loan today.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.